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- Release Date: 12/12/13 10:54
- Summary: GENERAL: VCT: Vector to consider merits decision
- Price Sensitive: No
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VCT
12/12/2013 08:54
GENERAL
REL: 0854 HRS Vector Limited
GENERAL: VCT: Vector to consider merits decision
Vector has received the High Court's judgment relating to the company's
Merits Appeal.
Vector Chief Executive Simon Mackenzie said the Court has allowed one of
Vector's appeal points and an issue raised by the airport companies, but had
dismissed all other appeals.
"The Court has advised it did not agree with a number of elements of the
Commerce Commission's reasoning process, however it did not believe the
alternative approaches proposed by Vector and six other infrastructure
companies passed what appears to be an exceptionally high hurdle that the
Court considers must be achieved before the Commission's approach could be
overturned.
"Given this, the Government's recent announcement that it intends to review
regulatory arrangements under the Commerce Act, together with the
Productivity Commission's work around regulatory best practice, is both
timely and welcome.
"While the overall outcome is disappointing the judgment is extensive and we
will take time to consider the implications of the decision before commenting
further," said Mr Mackenzie.
The decision can be viewed at:
www.courtsofnz.govt.nz/cases/wellington-international-airport-ltd-ors-v-comme
rce-commission
-Ends-
End CA:00245073 For:VCT Type:GENERAL Time:2013-12-12 08:54:07
